Redfin Reports Lower Mortgage Rates Trim Hundreds off Monthly Payments, yet Homebuyers Are Still Cautious

(NASDAQ:RDFN) SEATTLE--(BUSINESS WIRE)--Declining mortgage rates are one factor pushing the median U.S. monthly mortgage payment down to $2,604, more than $200 below May’s all-time high. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. The daily average mortgage rate declined to an 11-month low of 6.28% this week, upping homebuyers’ purchasing power by more than $20,000 since mid-summer. But home-sale prices are still rising: The median sale price was roughly $393,00